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Market Outlook - 16th Dec 2015

Published on Aug 05th 2015

IT

Indian markets are expected to open flat with positive bias tracking SGX Nifty. U.S. stocks closed lower Tuesday but off the session lows hit when one of the Fed president indicated that September interestrate hike is likely unless there is a significant deterioration in the economy. FTSE 100 was down as Standard Life shares were lower by 3.3% after it said that its annuities business suffered from recent pension reforms. Markets corrected on profit booking post RBI announced its 3rd biomonthly policy review. In a volatile trading session Sensex plunged more than 300 points intraday and Nifty breached 8500 but managed to cut losses in later part of the session. Index heavyweights Infosys Reliance ITC and HDFC twins dragged the market but select banks and metals mining stocks supported.

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